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Updated: 5:58 PM Sep 8, 2005
Yellow Roadway Cuts Guidance on Katrina Damage
Transportation company Yellow Roadway expects its third-quarter profits to be hurt by Hurricane Katrina as well as internal issues. Posted: 5:58 PM Sep 8, 2005Reporter: AP |
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Transportation company Yellow Roadway expects its third-quarter profits to be hurt by Hurricane Katrina as well as internal issues.
The Overland Park-based firm today lowered its earnings projection for the three-month period ending in October.
Yellow Roadway now expects quarterly earrings of a $1.40 to a $1.45 per share, down $.20 cents from its earlier forecast.
Analysts surveyed by Thomson Financial had expected quarterly earnings of a $1.63 per share.
The company predicts that disruptions caused by Hurricane Katrina to reduce profits by five cents per share. But it blamed most of the lowered forecast to problems in revising the operations of its Roadway Express division.
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